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According to MRFR analysis, the global Metal Packaging Market is expected to register a CAGR of 3.50% from 2022 to 2030 and hold a value of over USD 121 billion by 2030.
The metal packaging market is a process that includes packing for distribution, storage, and sale. This process is done using metals such as aluminum and steel. Many driving forces contribute to the growth of the metal packaging market, including the demand for food packaging and the increase in urbanization and consumption of vegetables. As more and more people test positive for the virus, many governments have implemented lockdown procedures in an attempt to prevent the spread of the disease. This has increased by people working from home, which has in turn decreased the spread of the pandemic. However, this has caused a great demand for raw materials as manufacturing companies attempt to keep up with demand. After lockdown restrictions were lifted, the use of metals in construction industries increased, resulting in an even higher demand for Metal Packaging Market Size.
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Regional Analysis
North America has the largest share of the market due to the booming food and beverage industries. The US is leading the market because of the growing demand for canned and processed foods. Asia Pacific is a rapidly growing region in the forecasting period. This is attributed to the growth of a large number of industries and rising demand for food and beverage products. The Metal Packaging Market in Asia Pacific is expected to grow significantly during the forecast period.
Market Segmentation
The Global Metal Packaging market has been segmented into material, type, and application.
Based on the material, the market has been segmented into Aluminum, Steel, and others.
Based on the type, the market has been segmented into Cans, Drums & Barrels, Caps & Closures, and others
Based on the application, the market has been segmented into Food & Beverages, Healthcare, Personal care, Chemicals, and others
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Key Players
Some of the key market players are Ball Corporation, Crown Holdings Inc, Can pack SA, Silgan holdings incorporated, Tubex GmbH, Grief incorporated, Mauser packaging solutions, Ardagh group, DS containers Inc, and CCL containers Inc.
Industry News
Metal Packaging Europe
Dec 2022: The latest report by Metal Packaging Europe and European Aluminium shows that the overall recycling rate for aluminium beverage cans in the European Union, United Kingdom, Switzerland, Norway and Iceland remained high in 2020 at 73% (72.8%). With a 3% points drop compared to 2019 and a growth of 9% cans consumed, the total amount of aluminium recycled from cans reached a record level of 510,000 tonnes, an increase of more than 20,000 tonnes since the previous year.
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